Atour Lifestyle (NASDAQ:ATAT) Hits New 52-Week High – Here’s What Happened

Atour Lifestyle Holdings Limited (NASDAQ:ATAT) shares hit a new 52-week high on Wednesday . The company traded as high as $30.86 and last traded at $29.78, with a volume of 127539 shares changing hands. The stock had previously closed at $29.00.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group started coverage on Atour Lifestyle in a research note on Monday, December 9th. They set a “buy” rating and a $34.40 price target on the stock.

Atour Lifestyle Stock Performance

The stock has a market cap of $4.07 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 0.51 and a beta of 0.45. The company has a 50 day moving average of $27.09 and a two-hundred day moving average of $24.27.

Institutional Investors Weigh In On Atour Lifestyle

A number of institutional investors and hedge funds have recently made changes to their positions in ATAT. First Beijing Investment Ltd increased its holdings in shares of Atour Lifestyle by 175.0% in the 3rd quarter. First Beijing Investment Ltd now owns 5,639,562 shares of the company’s stock valued at $146,290,000 after acquiring an additional 3,588,469 shares during the last quarter. M&G PLC lifted its stake in shares of Atour Lifestyle by 173.2% in the third quarter. M&G PLC now owns 3,518,106 shares of the company’s stock valued at $91,471,000 after purchasing an additional 2,230,247 shares during the period. JPMorgan Chase & Co. grew its holdings in Atour Lifestyle by 39.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,413,593 shares of the company’s stock valued at $38,012,000 after purchasing an additional 402,974 shares during the last quarter. Norges Bank purchased a new stake in Atour Lifestyle in the 4th quarter valued at approximately $36,489,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Atour Lifestyle by 56.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,218,468 shares of the company’s stock worth $32,765,000 after buying an additional 441,200 shares in the last quarter. 17.79% of the stock is owned by hedge funds and other institutional investors.

Atour Lifestyle Company Profile

Atour Lifestyle Holdings Limited, through its subsidiaries, develops lifestyle brands around hotel offerings in the People’s Republic of China. The company provides hotel management services, including day-to-day management services of the hotels for the franchisees; and sells hotel supplies and other products.